TOKYO: Japan’s Nikkei share closed above 45,000 for the first time on Thursday, underpinned by technology shares, as optimism swept into the market following the US Federal Reserve’s widely anticipated 25-basis-point interest rate cut.
The Nikkei 225 Index jumped 1.15 percent to close at 45,303.43, and also set an intraday record of 45,508.67, surpassing the previous high set earlier this week. The broader Topix recovered from an early dip to advance 0.4 percent.
Global markets have been on tenterhooks awaiting a rate cut from the US central bank and signals of further stimulus for the world’s biggest economy that is a destination for much of Japan’s exports.
The Dow index of blue-chip US shares finished higher, while the yen reversed an initial surge after the Federal Open Market Committee’s decision, which projected two additional cuts this year.
“The Nikkei started higher today, buoyed by the relief following the smooth passage of last night’s FOMC meeting, the Dow’s rebound, and ongoing yen depreciation,” said Nomura strategist Maki Sawada.
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